World Bank funds for hydroelectric project in Africa

Monday, 12 August 2013 10:21

The Regional Rusumo Falls Hydroelectric Project will aim to boost reliable power supply to the electricity grids of Burundi, Rwanda and Tanzania. (Image source: Alex Polezhaev/Flickr)The World Bank has approved US$340mn for a hydroelectric project that will aim to benefit 62mn people in Burundi, Rwanda and Tanzania, as part of the Great Lakes regional initiative

The initiative was inaugurated by the bank’s president and United Nations secretary-general Ban Ki-moon in May 2013.

The Regional Rusumo Falls Hydroelectric Project, which has a total cost of US$468mn and an eventual 80MW generation capacity, will aim to boost reliable power supply to the electricity grids of the three countries, reduce electricity costs and promote renewable power.

The World Bank stated in a news release that the project will be expected to spur job-led economic development and pave the way for more dynamic regional cooperation, peace and stability among the countries of the Nile Equatorial Lakes (NEL) sub-region in east Africa.